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Reply to "Where would you park money from sale of parents' home to pay nursing home"
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[quote=Anonymous]There are many nursing homes that will not accept residents who are paying with Medicaid, but who will keep current residents after their money runs out and accept what Medicaid will pay at that time. They generally want you to pay at least a year at market rates before switching to Medicaid. It sounds like you will have enough money from the sale of their house to cover them in a nursing home for much more than a year. Before moving them in somewhere, I would negotiate to make sure that if they outlive their funds the nursing homes will accept Medicaid for however much longer they live. They won't qualify for Medicaid until they have run through all their other assets.[/quote]
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